Pacific Premier Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2018; Reports Net Loan Charge-Offs for the Fourth Quarter Ended December 31, 2018
January 29, 2019 at 11:00 am
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Pacific Premier Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2018. For the quarter, the company reported total interest income of $136,021,000 against $85,684,000 a year ago. Net interest income before provision for credit losses was $117,546,000 against $78,170,000 a year ago. Net income was $39,643,000 against $16,171,000 a year ago. Basic earnings per share was $0.64 against $0.37 a year ago. Diluted earnings per share was $0.63 against $0.36 a year ago.
For the year, the company reported total interest income of $448,423,000 against $270,005,000 a year ago. Net interest income before provision for credit losses was $392,711,000 against $247,502,000 a year ago. Net income was $123,340,000 against $60,100,000 a year ago. Basic earnings per share was $2.29 against $1.59 a year ago. Diluted earnings per share was $2.26 against $1.56 a year ago.
For the quarter, the company reported net loan charge-offs of $138,000 against $392,000 a year ago.
Pacific Premier Bancorp, Inc. is a bank holding company. The Company operates through its wholly owned subsidiary, Pacific Premier Bank (the Bank). The Bank provides banking products and services, including deposit accounts, digital banking, and treasury management services, to businesses, professionals, entrepreneurs, real estate investors, and nonprofit organizations. The Bank also offers a range of loan products, such as commercial business loans, lines of credit, commercial real estate loans, agribusiness loans, franchise lending, and construction loans. Pacific Premier Bank offers commercial escrow services and facilitates 1031 Exchange transactions through its Commerce Escrow division. The Bank offers clients individual retirement account (IRA) custodial services through its Pacific Premier Trust division. It conducts business throughout the Western Region of the United States from its 58 full-service depository branches located in Arizona, California, Nevada, and Washington.
Pacific Premier Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2018; Reports Net Loan Charge-Offs for the Fourth Quarter Ended December 31, 2018